TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Avid Technology Inc (NASDAQ: AVID) Investor Securities Class Action Lawsuit 11/21/2016

  • You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of April 19, 2018 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Avid Technology, Inc.
Security
NASDAQ: AVID

Case Name
Avid Technology Shareholder Class Action Lawsuit 11/21/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Massachusetts

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
avid_technology_inc_settlement_notice_1_2018.pdf
Settlement Proof
avid_technology_inc_settlement_proof_1_2018.pdf
Filed Complaint
avid_technology_inc_original_filing_edited_11_2016.pdf
You must register or login to receive notifications.

Click here to subscribe to Avid Technology, Inc. .

Settlement Overview

Date Settled
Date Settled
Settlement Amount
$1,325,000.00
Deadline to Participate in Settlement

You must register to view and download the Settlement Notice and Settlement Proof.

Summary

January 12, 2018 - The court preliminarily approved the settlement.

November 30, 2017 - A stipulation of settlement was filed by the parties.

June 14, 2017 - A motion to dismiss the corrected amended complaint was filed.

April 19, 2017 - A corrected amended complaint was filed.

April 14, 2017 - An amended complaint was filed.

November 21, 2016 - An investor in shares of Avid Technology Inc (NASDAQ: AVID) filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Avid Technology Inc in connection with certain allegedly false and misleading statements made between August 4, 2016 and November 9, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Avid Technology Inc (NASDAQ: AVID) common shares between August 4, 2016 and November 9, 2016, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 4, 2016 and November 9, 2016 Avid Technology Inc knew but failed to disclose that because it had not launched all the enterprise level features for its new NEXIS solution product offerings, its enterprise customers were deferring renewals and purchases. Avid Technology Inc reported that its annual Total Revenue declined from $530.25 million in 2014 to $505.60 million in 2015 and that its Net Income decreased from $14.73 million in 2014 to $2.48 million in 2015. Shares of Avid Technology Inc (NASDAQ: AVID) $17.85 per share in June 2015 to as low as $5.38 per share in May 2016.

On November 9, 2016, Avid Technology Inc announced its third quarter 2016 results and updated its full-year 2016 guidance.

Shares of Avid Technology Inc (NASDAQ: AVID) declined to as low as $4.24 per share on November 23, 2016.

avid_technology_inc_original_filing_edited_11_2016.pdf
Date Settled